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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Skywatcher who wrote (1307)	6/19/2002 4:24:42 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 1715

See my earlier post... no, honestly, I haven't been following the California energy problem, there are so many problems in the world from which to choose, but yes, I'm aware there is some kind of energy situation there... living in Florida, California in not a priority for me, but I'm willing to learn through our discussions... are you aware of the problem here in the Florida Keys? Probably not, but that's okay too.....<g> GZ

To: Skywatcher who wrote (1307)	6/19/2002 6:23:15 PM
From: Raymond Duray	Respond to of 1715

PEROT SYSTEMS: Agreement to Testify biz.yahoo.com Wednesday June 19, 3:47 pm Eastern Time Reuters Technology Report Perot Agrees to Testify in Calif. Power Probe By Ben Berkowitz LOS ANGELES (Reuters) - Billionaire H. Ross Perot will testify on July 11 before a California senate committee probing charges his computer company tried to help energy traders exploit California's deregulated power market, officials said on Wednesday. ADVERTISEMENT But Perot and his company, Perot Systems Corp. (NYSE:PER - News), may still be subpoenaed to provide further testimony and information, according to a spokeswoman for state Sen. Joseph Dunn, the committee's chair. After the close of business on Wednesday, Perot Systems will send a box of documents to the state attorney general's office, with copies to Sen. Dunn's committee, to comply with a prior subpoena from Attorney General Bill Lockyer, Perot spokeswoman Mindy Brown Malooly told Reuters. Dunn's committee has been investigating actions taken by energy companies during the state's 2000-2001 power crisis. After Perot said last week he would not be available to testify until July, Dunn said he would seek subpoenas to compel the former presidential candidate's testimony. Dunn has now accepted Perot's offer to appear July 11, but "that's not to say that we will not move forward with some subpoenas -- we have not made that decision yet," the spokeswoman for Dunn said. Perot Systems designed computer systems used to manage the state's power grid which energy companies, including the now-bankrupt Enron Corp., allegedly "gamed" to reap what the state has characterized as billions of dollars in illicit profits. Two weeks ago, Dunn, a Democrat from Orange County, released a Perot Systems presentation that illustrated ways to exploit loopholes in the state's energy market for profit. Since the release of those documents, Perot shares have lost about 35 percent of their value, and an investor suit has been filed against the company in federal court alleging it engaged in risky business practices by becoming involved in the California energy mess. Malooly said the company had no comment on those suits. The shares were down almost 8 percent at $11.71 in afternoon trade Wednesday on the New York Stock Exchange. Experts have testified before Dunn's committee that at least one strategy in the Perot presentation bears a strong similarity to a "game" used by bankrupt energy giant Enron Corp. (Other OTC:ENRNQ.PK - News) in May 1999, for which Enron was fined. Perot Systems has repeatedly denied that it sold any confidential or proprietary information, and has said it is willing to cooperate fully with the California investigation. At least one energy company, Reliant Energy Inc. (NYSE:REI - News), has said it received the Perot Systems presentation as part of a sales pitch by the services company. Reliant also has said it did have a commercial relationship with Perot.